Buyer Information

BUYER INFORMATION

Role of Your Representative

What Every Buyer Should Know

Purchasing New Construction

Understanding Title Insurance

How We Can Help

The Buying Process

Why hire the Dunn Team?

Buying a new home can be more than just a financial decision. It can be an emotional one as well. This is why it is so important to choose the right real estate representative -- one who is not a "salesperson" trying to sell you on something; but someone who wants to help you accomplish what you have decided you want to do. In order to do this successfully, your full-service real estate representative must be:

Your Property Specialist
Your Transaction Coordinator
Your Community Consultant
Your Marketing Manager
Your Experienced Negotiator
Your Trusted Advisor and Consultant
Your Real Estate Professional

The lone-agent concept just doesn't get the job done in today's marketplace. The Dunn Team is dedicated to providing the best real estate service and advice. Working as a team, we easily provide full service to our clients. The team approach provides top- dollar value for the same price as a single agent.

We are not a "Jack of all trades, master of none." We operate under the "Jack of one trade and master it well" philosophy. We use unity and strength to serve you. We strive to protect you and your home investment. We always watch out for your best interest. We work together to achieve one common goal: Your complete satisfaction!

The Dunn Team built this business on determining what people need and want and finding the best way to give it to them.

15 Things Every Buyer Should KnowBefore Purchasing

Property taxes and qualified home interest are deductible on an individual's federal income tax return.
Many times, a home is the largest asset an individual has and is considered one of the safest investments available
A homeowner can exclude up to $500,000 of capital gain if married filing jointly or up to $250,000 if single or married filing separately. The home must have been the taxpayer's principal residence for the previous two years.
A portion of each amortized mortgage payment goes toward the principal, which is an investment.
A home is one of the few investments you can enjoy by living in it!
The majority of the time, a REALTOR can show you any home, whether it is listed with a company or a builder or is even a For Sale By Owner.
Working with a REALTOR to purchase a For Sale By Owner property is very advantageous, because someone will be looking out for your best interests.
A real estate professional who can provide you financial information with a computer will give you a distinct advantage in making the right decisions.
A pre-approved program will actually approve you for a specific loan amount subject to the property. This will give you confidence and will help when negotiating with the seller.
Your real estate professional can provide you with a list of items that you'll need to make a loan application, so you'll be ready when the time comes.
The right to conduct a property inspection, included in your purchase agreement, gives you the ability to negotiate with the seller once you know all the facts about the property's condition.
A Home Protection Plan can provide coverage for selected items, such as central heat and interior plumbing, built-in appliances, water heaters, etc. If the seller is not providing this coverage, you can purchase it yourself.
Ask your real estate professional if he or she if familiar with the neighborhoods you want to live in. Ask how many homes he or she has sold in those areas in the past year.
Working with a REALTOR who has an office "team" helps assure the buyer that the transaction will be handled smoothly.
In a "seller's market," don't go looking for a deal. Set your sights on the right house for you, and then let your REALTOR help you negotiate the best price and terms.

Purchasing New Construction

Why should I use an agent to purchase a new-construction home?

The advantages of having us help you purchase a new home are the same as those for purchasing a resale home. We can provide you with valuable insight into the new construction industry, help you find the perfect home quickly, and then provide you with expertise in contract writing, negotiation, and closing assistance. The builder has a professional real estate representative who watches out for his or her best interests, and you need and deserve the same expert representation watching out for yours.

Buying a new home is a little more difficult and time-consuming than buying a resale home. We can professionally guide you through this process. Having spent years working with builders, The Dunn Team has a rapport with them and a database of information about subdivisions, floor plans, etc. The Dunn Team is also very familiar with new home warranties and the nuances of the builder's purchase contracts and various home inspections.

It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or a build-to-suit home. These transactions are complex and the contract details must be exactly in order to protect you and to ensure that you get exactly the home you want!

And when it comes to the home inspection, we will explain to you why it is essential to hire an independent home inspector to thoroughly inspect a newly constructed home.

Are there any advantages to not using an agent to purchase a new home?

There is no financial advantage for you to buy directly from the builder. Builders have a "single price" policy, meaning that you will be charged the same price whether your interests are represented by an agent or not. Just as in any resale, the seller pays your agent's fee. Most builders will make you give up your right to representation if you visit their model homes without an agent on the first visit. Therefore, please call us if you would like to look at some model homes, so you are given the representation you deserve!

Understanding Title Insurance

What is Title Insurance?

A Title Insurance Policy is a guarantee by a title company that a thorough investigation of the title to the property has been conducted and that you have been notified of any outstanding claims to the property. The title insurance company reports any defects in the title in the form of a Title Commitment so that these matters can be corrected. It is important that you know of all claims on the property and have them resolved and declared removed prior to you taking title to the property.

The Title Commitment will carefully detail what items of encumbrance are not covered by the policy. You can either get these items resolved or bow out of the transaction. Title insurance covers matters that occurred before the policy's effective date but were discovered later. Your policy will detail what is covered, what is not covered, and the effective date.

Title insurance is issued by the title company when they are certain the property is free from all liens, encumbrances, interests, etc, and the insurance guarantees such. This is so the title can be legally transferred to the buyer to be used as security for the lender's funds. This is why title insurance is required by the lender. Your lender has an interest in knowing that you and the lender are the only parties with claims to the property.

The title insurance company thoroughly searches the public records to uncover and unpaid taxes, mortgages, judgments against previous owners, easements, and other court actions or recorded documents that can affect title to the real estate. The insurance also provides protection against any defect in the public record such as forgery, similar names, error in the records, etc., and protests against any undiscovered or unrecorded claims that may arise in the future.

When title insurance is issued, the title-insurance company accepts the responsibility for any and all claims on the property prior to your purchase if they do not find the claim or call it to your attention, prior to your purchase of the property. That responsibility includes defending your title in court, if necessary (at their expense), or bearing the cost of settling the claim (if it proves valid) in order to perfect your title and keep you in possession of your property.

Unlike other forms of insurance, the original premium is your only cost as long as you or your heirs own the property. There are no annual payments required to keep your Owner's Title Policy in force.

Title insurance protects you twice -- it notifies you of claims against the property and insures you against any future claims on hidden items.

How We Can Help

Question: Do home buyers need the help of a Buyer Representative?
Answer: You bet! Because when buyers work with a real estate professional who is 100% loyal and completely committed to them, chances are that the entire home- buying process will go smoothly, with a higher level of buyer satisfaction.

Question: What is a Buyer Representative?
Answer: A Buyer Representative works solely for you and has no legal or other responsibilities to the seller.* When working with a Buyer Representative, you have the advantage of personal representation, independent counseling, loyalty, confidentiality, and trust. On the other hand, while helping you present an offer and then negotiate and close a transaction, a general real estate agent has certain fiduciary responsibilities to the seller and agent of any property you choose. In a case where the property your agent is representing you to buy is also that agent's listing, dual agency applies. Talk to your agent for more information.

Question: Can a Buyer Representative show us the same properties?
Answer: Yes, a Buyer Representative can show you every home listed in the REALTOR®'s Multiple Listing Service (MLS), PLUS Real Estate Owned (REO) and For Sale By Owner (FSBO) properties. Additionally, a Buyer Representative can show you builder models to select your own, brand-new properties and unlisted homes.

Question: Will a Buyer Representative disclose more information to us?
Answer: Yes indeed. Because a Buyer Representative's fiduciary responsibility is to you, he or she can be more forthcoming with any negative aspects about properties that you are investigating for purchase.

Question: Does a Buyer Representative make decisions for us?
Answer: No. As your personal ally, advocating your best interests, a Buyer Representative is obligated to provide you with maximum information about buying a home, each step of the way. That means disclosing specifics about location, property values, offering price, negotiations, counteroffers, contingencies, financing, and the entire closing process. Armed with such vital and detailed information, you'll be thoroughly prepared to make decisions that are right for you and your family. The Right Choice to Represent Your Interests.

Step by Step - The Buying Process

Find a REALTOR who you can trust

The First Step... Now that you have chosen a specialized buyer representative who you can trust, you have accomplished the first step in the home-buying process. We will make sure that all of your needs are met and will be representing you through the entire process of buying your new home.

Getting Pre-Approved

An Important Step... We feel an important aspect when starting the process of buying a home is to meet with a lender and get a pre-approval. Your buyer representative can put you in contact with a lender, if you desire, who can give you information about your approval and also explain some of the financing options available to you.

Consulting Session

Important Information... Your buyer representative will meet you one on one to discuss the features you desire in a home as well as to pin-point the area you wish to live in.

The Search Begins

The Next Step... Once you've established the type of home you're searching for, it's time to start looking. Your buyer representative is available, by appointment, to help you find your dream home.

Your Offer

Be Careful -- This Is a Big Step... When you find your dream home, you should present a competitive offer immediately. Your buyer representative has extensive experience in contract negotiations; he or she will ensure that you get the home you want for a fair price -- a transaction in your best interest.

The Accepted Offer

We're Starting to Jog Now... When the seller accepts your offer, you will have what we call a pending offer. You want to make sure that every detail is handled accurately and immediately. We will ensure that your home closes properly and on time.

Inspections

You're on the "Home" Stretch!... Final details are handled and inspections are performed to ensure that the property is "perfect" for you. Contract details are further negotiated and we head to closing!

Signing the Loan Documents

Finalizing the Lender's Commitment... Be prepared to bring your cashier's check, insurance binder, and driver's license to the closing. The next steps you take will be into your new home!

Now the Home is YOURS!

You are Finally Home... After the deed is recorded and a possession date is decided upon, pick up the keys and move into your new home!

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